Printing Blankets Market to reach US$ 855.6 million in 2024
February 03, 2020
The Printing Blankets Market is projected to grow at a healthy rate over the next five years to reach US$ 855.6 million in 2024. Organic growth of the offset printing market, expanding the packaging industry, growing advertising industry, and increased focus towards the development of eco-friendly blankets are the major factors, catapulting the growth of printing blankets market.
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Printing Blankets Market Segment Insights:
By Blanket Type:
Based on the blanket type, the market is segmented into conventional printing blankets, UV printing blankets, combination printing blankets, and others. Conventional printing blanket is likely to remain the most dominant blanket type in the market over the next five years. High-quality print at a very competitive price is the major factor behind the dominance of conventional blankets. UV printing blanket is likely to expand at the highest rate over the same period, driven by its ability to resist the UV inks and helps in UV printing.
By Substrate Type:
Based on the substrate type, the market is segmented into paper & paperboard, metal, textile, and others. Paper & paperboard dominates the market and is expected to maintain its vanguard in the market during the forecast period as well. Paper & paperboard printing majorly includes printing of newspaper, magazines, and corrugated boxes, used for packaging. Asia-pacific is the largest market for newspaper, magazines, and corrugated boxes, owing to the huge population base coupled with meteorically increasing disposable income and expanding economies especially of China and India.
By Application Region:
Based on the application type, the market is segmented into packaging, commercial, newspaper, and others. Packaging application is expected to remain the most dominant segment of the market during the forecast period. The food & beverages, cosmetics & toiletries, and healthcare are the major applications of the packaging printing blankets market. Increase in the demand for sustainable packaging and flexible packaging along with cost-effectiveness and reduced packaging waste is the prime factor, driving the growth of the packaging segment. All the application types are expected to witness healthy growth during the forecast period.
By Region:
In terms of region, Asia-Pacific is projected to remain the largest as well the fastest-growing market during the forecast period, driven by significant economic development in the region, increasing disposable income, surging demand for flexible and easy to carry packaging, and vastly expanded print media industry. China and India are the growth engines of the region’s market, propelled by huge consumer base, significant economic growth, and consistent supply chain. Availability of vast raw material sources, expanding the industrial sector, and readily available customer base are some of the factors, strengthening the eco-system of the Asia-Pacific’s printing blankets market.
Europe and North America are the other major markets for printing blankets, primarily driven by the packaging industry. Increasing demand for flexible and easy to carry packaging, rising concern towards the use of plastics in the packaging industry, and significant investment towards sustainable product development are the major factors, driving the growth of the North American and European printing blankets market. Increasing digitalization in these regions is acting as a major constraint towards the growth of the printing blankets market as it is severely impacting the stature of the newspaper and commercial print media industry.
Key Players:
The supply chain of this market comprises raw material suppliers, printing blankets manufacturers, distributors, and end-users. Some of the key players in the printing blankets market are Trelleborg AB, Continental AG (ContiTech), Flint Group, Fujikura Composites Inc., Kinyosha Co., Ltd., Meiji Rubber and Chemical Co., Ltd., Habasit AG, Birkan GmbH, CNI XINYUAN Ltd. (Airdot), and Shanghai Chen Jie Printing Material Co., Ltd.
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- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
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- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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